The Huntington National Bank v. Trio Lumber Co. et al

Filing 33

ORDER FOR LIQUIDATION. Signed by District Judge Terrence G. Berg. (Goltz, D)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN
SOUTHERN DIVISION
The Huntington National Bank,
successor to Fidelity Bank, f/k/a
Community Bank of Dearborn,
Plaintiff,
Case No. 13-12966
Hon. Terrence G. Berg

v.
Trio Lumber Co.; 6000 Pardee, LLC;
James D. Savage; Patricia J. Savage;
Mark A. Savage; Edward Hostmann,
Inc., as Court Appointed Receiver for
North Pacific, Inc.; and the State of
Michigan,
Defendants.

ORDER FOR LIQUIDATION
IT IS HEREBY ORDERED THAT Defendants shall attempt to sell all of the
assets which are the subject of this action as a going concern for the next one
hundred eighty (180) days with such brokers, agents and other professionals as may
be agreeable to the parties and the Receiver;
IT IS FURTHER ORDERED THAT if Defendants shall be unable to sell the
assets as a going concern within the time provided above, Defendants shall cease
operations and conduct a going out of business or similar type sale and shall list any
real estate with reputable brokers who are subject to the reasonable approval of the
parties and the Receiver;

IT IS FURTHER ORDERED THAT any personal property not sold during
the going out of business sale shall be sold at auction by an auctioneer subject to the
reasonable approval of the parties and the Receiver;
IT IS FURTHER ORDERED THAT the Receiver shall remain in place, but
shall be limited to monitoring the Defendants’ actions for a maximum of five (5)
hours per month;
IT IS FURTHER ORDERED THAT this action shall be administratively
closed during the liquidation process and may be reopened by either party or the
Receiver for further proceedings consistent with this Order.

Dated: March 12, 2014

s/Terrence G. Berg
TERRENCE G. BERG
UNITED STATES DISTRICT JUDGE
Certificate of Service

I hereby certify that this Order was electronically submitted on March 12,
2014, using the CM/ECF system, which will send notification to the parties.
s/A. Chubb
Case Manager